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Poster: Monte B Cowboy Date: Apr 10, 2013 2:54pm
Forum: occupywallstreet Subject: Re: Google vs Apple -- American Workers are Occupied

Apple "occupation" vs Google "occupation"

Foxconn "wins the occupation" in both cases!

Google Glass will be made by Foxconn in Santa Clara!
(Credit: Stephen Shankland/CNET)
by Eric Mack for CNET News on March 27, 2013

Like so many other popular and much-coveted tech gadgets, Google Glass will be made by China's Foxconn -- but not in China. The Financial Times is reporting that Google's augmented reality specs will be assembled by the Taiwan-based company, also known as Hon Hai Precision Industry, at a facility in Santa Clara, Calif. Foxconn has contracts with many big names in the tech world to manufacture and/or assemble laptops, smartphones, and other consumer products in facilities around the world, including its massive, city-sized factories in mainland China. According to the report, the small scale, high cost, and complexity of Glass made it a good candidate for the "made in the USA" label.

Will Apple's iWatch be made by Foxconn in China like iPhones and iPads are?
by Peter Burrows & Olga Kharif for Bloomberg News on Mar 4, 2013

The global watch industry will generate more than $60 billion in sales in 2013, said Citigroup Inc. analyst Oliver Chen. While that’s smaller than the pool of revenue that comes from TVs, gross margins on watches are about 60 percent, he said. That’s four times bigger than for televisions, according to Anand Srinivasan, a Bloomberg Industries analyst.

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Poster: Monte B Cowboy Date: May 21, 2013 7:53am
Forum: occupywallstreet Subject: Re: Google vs Apple -- American Workers are Occupied -- May 21, 2013

Apple Corporation is 'among largest tax avoiders in USA' according to a US Senate committee. The Senate committee said Apple had used "a complex web of offshore entities" to avoid paying billions of dollars in US income taxes. -- May 21, 2013

"Apple Inc established an offshore subsidiary, Apple Operations International, which from 2009 to 2012 reported net income of $30bn, but declined to declare any tax residence, filed no corporate income tax return and paid no corporate income taxes to any national government for five years."

Irish-based Apples Sales International generated around $74bn (£48.5bn) in profits but "may have paid little or no income taxes to any national government on the vast bulk of those funds".

According to the senators on the Permanent Subcommittee on Investigations, Apple transferred offshore into low-tax countries the economic rights to its intellectual property - its valuable and usually patentable knowhow - with the result that it avoided around $10bn (£6.5bn) of US tax every year (what the senators characterise as $44bn, or £29bn, of US tax avoidance over the past four years).

What is the point of all this? Well the senators point out that Apple has continued to accumulate vast amounts of cash in places other than the US, and those cash holdings now exceed an eye-popping $102bn (£67bn).

Why does any of this matter?

Well it is part of a broad trend of multinationals paying a much smaller proportion of public sector costs in all the world's developed economies.

In the US, for example, corporate tax generated 32.1% of all federal taxes in 1952. Today that proportion has fallen to a puny 8.9%.